Urban Policy in an Era of Fiscal Austerity

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With the federal debt at $16 trillion, the fate of the nation's cities stands at a crossroads. While cities like New York appear to be doing better than ever, a rising tide of poverty and inequality threatens to undermine their progress. Meanwhile, a large group of second-tier cities, from Detroit and St. Louis to Stockton and San Bernardino, are besieged as never before. How will the mushrooming national debt and looming federal austerity regime affect these trends? Will austerity exacerbate the division between successful and struggling cities?